How to do your MilkyWay (MILK) taxes with Koinly
MilkyWay is a staking and restaking protocol within the Cosmos ecosystem, designed to popularize staking on Babylon, Celestia, and Initia.
If you're staking with MilkyWay, you likely have a tax bill. Koinly can calculate MilkyWay crypto taxes with just your transaction history. Here's how.
Follow these steps to sync your MilkyWay (MILK) data automatically to Koinly:
- Open your MilkyWay (MILK) wallet app
- Locate and copy your public address or key
On Koinly:
- Create a free account on Koinly
- Complete onboarding until you get to the Wallets page and find MilkyWay (MILK) in the list
- Select API > Paste the public address/key you copied above in the appropriate box
- Hit Import and wait for Koinly to sync your data. This can take a few minutes
- Review your transactions on the Transactions page to ensure everything is tagged correctly and no missing data
- Go to the Tax Reports page to view your tax liability!
Please note that transaction history imported via this integration may be incomplete due to API limitations. NFT transactions, liquidity operations, and older activity may require manual entry to ensure full accuracy.
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- Hit up our discussion boards - we might have already answered your question
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FAQs
What is MilkyWay (MILK)?
MilkyWay is a liquid staking solution for modular blockchains within the Cosmos ecosystem. Its primary purpose is to popularize staking and restaking on Celestia, Initia, and Babylon for TIA, INIT, and BABY. Users earn yield by securing the blockchains. The native token, $MILK, is used for staking, network governance, and liquidity incentives.
Does MilkyWay (MILK) provide tax documents?
No, MilkyWay doesn't provide tax documents. To calculate your crypto gains, losses, and income, sync your MilkyWay data to Koinly, and it will do the calculations for you and provide complete tax reports.
